Tandem Diabetes Care, Inc. (NASDAQ:TNDM) Receives Average Rating of “Moderate Buy” from Analysts

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $43.88.

Several brokerages have recently issued reports on TNDM. Citigroup cut Tandem Diabetes Care from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $35.00 to $24.00 in a report on Tuesday, March 4th. Mizuho assumed coverage on Tandem Diabetes Care in a research note on Thursday. They issued a “neutral” rating and a $20.00 price objective on the stock. Robert W. Baird reduced their price target on shares of Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group reiterated a “buy” rating and set a $63.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday, February 26th. Finally, Morgan Stanley cut shares of Tandem Diabetes Care from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $45.00 to $22.00 in a research note on Wednesday, March 5th.

Tandem Diabetes Care Stock Performance

Shares of NASDAQ TNDM opened at $17.04 on Friday. The company has a market cap of $1.13 billion, a P/E ratio of -8.83 and a beta of 1.52. Tandem Diabetes Care has a 52-week low of $15.75 and a 52-week high of $53.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The firm’s fifty day moving average is $24.00 and its two-hundred day moving average is $31.10.

Insider Activity at Tandem Diabetes Care

In other news, COO Jean-Claude Kyrillos acquired 10,538 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $18.12 per share, with a total value of $190,948.56. Following the completion of the purchase, the chief operating officer now directly owns 10,538 shares in the company, valued at $190,948.56. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in TNDM. NBC Securities Inc. bought a new stake in shares of Tandem Diabetes Care in the first quarter valued at about $37,000. GAMMA Investing LLC increased its position in Tandem Diabetes Care by 763.3% during the 1st quarter. GAMMA Investing LLC now owns 42,190 shares of the medical device company’s stock valued at $808,000 after purchasing an additional 37,303 shares during the period. Connective Capital Management LLC bought a new stake in shares of Tandem Diabetes Care in the 4th quarter valued at about $611,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tandem Diabetes Care by 20.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,739 shares of the medical device company’s stock worth $6,402,000 after purchasing an additional 30,133 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Tandem Diabetes Care by 4.4% during the fourth quarter. Two Sigma Investments LP now owns 861,188 shares of the medical device company’s stock valued at $31,020,000 after purchasing an additional 36,475 shares in the last quarter.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.